Bitdeer Technologies Group (NASDAQ:BTDR) Receives Consensus Recommendation of “Buy” from Analysts

Shares of Bitdeer Technologies Group (NASDAQ:BTDR) have received a consensus rating of “Buy” from the eight research firms that are presently covering the company, Marketbeat reports. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $13.56.

Several research firms recently weighed in on BTDR. HC Wainwright reaffirmed a “buy” rating and set a $20.00 target price on shares of Bitdeer Technologies Group in a research note on Tuesday, June 11th. B. Riley assumed coverage on shares of Bitdeer Technologies Group in a research report on Tuesday, March 12th. They set a “buy” rating and a $9.00 price objective for the company. Cantor Fitzgerald upgraded shares of Bitdeer Technologies Group to a “strong-buy” rating in a research report on Wednesday, June 12th. BTIG Research assumed coverage on shares of Bitdeer Technologies Group in a research report on Wednesday, March 13th. They set a “buy” rating and a $15.00 price objective for the company. Finally, Roth Mkm assumed coverage on shares of Bitdeer Technologies Group in a research report on Thursday, February 29th. They set a “buy” rating and a $14.00 price objective for the company.

Institutional Trading of Bitdeer Technologies Group

Several institutional investors and hedge funds have recently bought and sold shares of BTDR. Barclays PLC acquired a new stake in Bitdeer Technologies Group during the 3rd quarter valued at approximately $49,000. Swiss National Bank acquired a new position in shares of Bitdeer Technologies Group in the 3rd quarter valued at $604,000. Exchange Traded Concepts LLC lifted its stake in shares of Bitdeer Technologies Group by 83.7% in the 4th quarter. Exchange Traded Concepts LLC now owns 533,975 shares of the company’s stock valued at $5,265,000 after purchasing an additional 243,245 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Bitdeer Technologies Group by 149.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 38,901 shares of the company’s stock valued at $384,000 after purchasing an additional 23,310 shares during the period. Finally, Vontobel Holding Ltd. acquired a new position in shares of Bitdeer Technologies Group in the 4th quarter valued at $240,000. 22.25% of the stock is currently owned by institutional investors and hedge funds.

Bitdeer Technologies Group Stock Performance

BTDR opened at $9.78 on Friday. The stock has a market capitalization of $1.10 billion, a price-to-earnings ratio of -23.27 and a beta of 1.79. The company has a fifty day moving average of $6.85 and a 200 day moving average of $7.26. Bitdeer Technologies Group has a fifty-two week low of $2.77 and a fifty-two week high of $14.65.

Bitdeer Technologies Group (NASDAQ:BTDR) last posted its earnings results on Monday, May 13th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.07). The company had revenue of $119.51 million for the quarter, compared to analysts’ expectations of $119.12 million. Bitdeer Technologies Group had a negative net margin of 11.21% and a negative return on equity of 3.98%. On average, equities research analysts forecast that Bitdeer Technologies Group will post -0.01 earnings per share for the current year.

About Bitdeer Technologies Group

Bitdeer Technologies Group operates as a technology company for blockchain and computing. It offers hash rate sharing solutions, including Cloud hash rate and Hash rate marketplace; and a one-stop mining machine hosting solutions encompassing deployment, maintenance, and management services for efficient cryptocurrency mining; as well as mines cryptocurrencies for its own account.